Solarfun Power posts US$46.8-mln loss in Q2

Published: 20 Aug 2009 20:21:32 PST

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Aug. 21, 2009 (China Knowledge) - Solarfun Power Holdings Co Ltd<SOLF>, a manufacturer of silicon ingots, photovoltaic cells and PV modules in China, announced that it suffered losses of US$46.8 million or RMB 319.9 million in the second quarter of this year, compared with RMB 78.1 million in net profit it reaped during the second quarter of last year, sources reported.

Losses per ADS were US$0.87, or RMB 5.95. However, excluding the provision that the company made for a supply agreement, Solarfun recorded earnings per ADS of US$0.08, or RMB 0.55.

In the period from April to June, Solarfun Power's revenue reached US$125.1 million or RMB 854.6 million, a year-on-year decline of 37%.

The solar module and cell maker predicted that its solar module shipments will exceed 100 megawatts in the third quarter and hit 80 MW in the fourth quarter.